Crude palm oil prices were down by 0.21 per cent to Rs 563.50 per 10 kg in futures trade today as participants trimmed positions on the back of sluggish demand in the spot market.
Besides, adequate stocks position on higher supplies from the producing belts also put pressure on palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in September month declined by Rs 1.20, or 0.21 per cent to Rs 563.50 per 10 kg in business turnover of 155 lots.
Similarly, the oil for delivery in October contracts edged down by 30 paise, or 0.05 per cent to Rs 554 per 10 kg in 40 lots.
Market analysts said offloading of positions by traders due to subdued demand in the spot market against sufficient stocks position mainly influenced crude palm oil prices.
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